Have You Been Denied Life Insurance Benefits?
If you have been denied life insurance benefits you are not alone. Many beneficiaries of life insurance policies have experienced their benefits being denied by the insurance company.
When you take out a life insurance policy, you pay into it with the expectation that when you or your spouse die your benefits will be dispersed as discussed. Unfortunately, some of the nations largest life insurance companies are notorious for withholding benefits from a significant number of beneficiaries.
In multiple cases, the insurance companies main goal was to avoid paying out the life insurance benefits they owed to beneficiaries. Too many Americans are unfairly denied the life insurance benefits to which they are entitled to – even if it is due to negligence on the insurance companies behalf.
Life insurance Companies Failure to Notify Beneficiaries
One of the most standard techniques used by a variety of insurances companies to avoid paying out policy benefits involves failing to notify a beneficiary that a deceased loved one had a life insurance policy.
In a majority of cases, the insurance companies are aware that a policy-holder has passed away but fail to notify beneficiaries completely ignoring evidence in their files thus avoiding a major pay out owed.
Unfortunately, many times people are not aware that life insurance benefits even exist, let alone where to locate the actual life insurance policies. Often, there isn’t a paper trail as to where these records might be, as many of us have our life insurance through work.
This can be a serious problem, because many life insurance policies have very strict time limits within which you must submit all claims.
If the deceased policy holder’s beneficiary never comes forward and requests their benefits, the insurance company will cancel the policy after an allotted time and keep the profits for themselves. This intentional negligence could impact millions of life insurance policies throughout the United States.
Types of Life Insurance Claims
There are multiple different life insurance policies to chose from that best fit you and your families needs. Some of the most common types of life insurance policies include:
- Term Life – this policy provides coverage for a pre-defined time period – usually 10 to 30 years – it is a more affordable form of coverage but it does not offer a cash value.
- Whole Life – this is the most common form of permanent insurance policies. This policy provides cash benefits to beneficiaries upon death, and the coverage comes with a guaranteed cash value to the policy holder.
- Universal Life – this plan is more flexible than whole life, and provides a savings cash value account earning a rate of interest. The policy holder can adjust the amount of their death benefit as well as their premium payments as needed.
- Return of Premium – (ROP) this form of life insurance does not have a cash-value feature, but it can return an equal amount to the premiums paid during the coverage approaching the end of the premium period.
If you’ve experienced the loss of a loved one, make sure you get the life insurance benefits you deserve. These benefits will take care of your family, your children, your loved ones, and many times it’s essential that you get these benefits for your own well-being, comfort and support.
Call Daggett Shuler, at 336-724-1234, we will fight to make sure you get the full amount of life insurance benefits you deserve.
Daggett Shuler Law – You Can Depend on Us
If you believe that you or a loved one may have a personal legal claim, you can contact us in one of three ways:
- Contact us online at www.daggettshulerlaw.com
- Call us toll free at 1-800-815-5500. Our phones are answered 24 hours a day.
- Click here for a Free Case Evaluation
At Daggett Shuler, you can depend on us.